Re:How the Bitcoins Were Stolen from Mt. Gox [video]
by dmoy on Sunday September 17, 2017 @08:25PM
(#15272506)
Yea if you keep your own bitcoin wallet, which if it's in mtgox or a similar exchange is not the case.
It'd be akin to buying up a bond fund vs. keeping a stack of treasury notes in your house. Only here the broker or whatever who is running the bond fund has only been up and running for <10 years, has basically no SEC oversight, and when your funds don't show up in the right amount of time your official method of recompense is "yea just wait awhile longer, we're going through a massive growth phase and are having difficulty dealing with the scale". Oh and in this hypothetical world, this is also the #1 broker in the world who handles >50% of all trades.
It'd be akin to buying up a bond fund vs. keeping a stack of treasury notes in your house. Only here the broker or whatever who is running the bond fund has only been up and running for <10 years, has basically no SEC oversight, and when your funds don't show up in the right amount of time your official method of recompense is "yea just wait awhile longer, we're going through a massive growth phase and are having difficulty dealing with the scale". Oh and in this hypothetical world, this is also the #1 broker in the world who handles >50% of all trades.